Serbian firms dominate list of 1,000 fastest growing companies in region

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On the TOP 1,000 list of fast-growing companies in the region, most are from Serbia - 306 firms, followed by Croatia with 299 and Slovenia with 223, Sarajevo-based Poslovne Novine reported.

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The Adria Region, in this survey, in addition to Serbia consists of Slovenia, Croatia, Bosnia and Herzegovina, Montenegro and Albania. The total revenue of the said 1,000 companies in 2023 amounted to 12.9 billion euros.

The main growth engine for companies in the Adria region, but also in almost all these countries individually, is the accelerated growth of the real estate market, which has made the construction sector a leader among the fast-growing industries.

A large number of citizens in the region believe that buying real estate is the best way to protect themselves from inflation, which encourages construction of both residential and non-residential buildings.

Travel agencies, hotels and private accommodation also recorded an increase in income, which can be interpreted as tourism growth after stagnation in this sector during the pandemic.

The list is based on companies' revenue growth over the last three years and they are ranked according to the Compound Annual Growth Rate (CAGR).

The latest ranking of fast-growing companies in the Adria region was published for the first time on the Poslovne Novine's website.

(Telegraf Biznis)